Infinity Estate Investments Limited |
Registered number: |
11342059 |
Balance Sheet |
as at 30 June 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Investment Property |
3 |
|
|
914,440 |
|
|
914,440 |
|
Current assets |
Debtors |
4 |
|
1,865 |
|
|
- |
Cash at bank and in hand |
|
|
7,432 |
|
|
15,396 |
|
|
|
9,297 |
|
|
15,396 |
|
Creditors: amounts falling due within one year |
5 |
|
(3,891) |
|
|
(3,804) |
|
Net current assets |
|
|
|
5,406 |
|
|
11,592 |
|
Total assets less current liabilities |
|
|
|
919,846 |
|
|
926,032 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(758,669) |
|
|
(762,780) |
|
Provisions for liabilities |
|
|
|
(38,502) |
|
|
(38,502) |
|
|
Net assets |
|
|
|
122,675 |
|
|
124,750 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Revaluation reserve |
7 |
|
|
164,142 |
|
|
164,142 |
Profit and loss account |
|
|
|
(41,469) |
|
|
(39,394) |
|
Shareholders' funds |
|
|
|
122,675 |
|
|
124,750 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
J Davis |
Director |
Approved by the board on 18 March 2024 |
|
Infinity Estate Investments Limited |
Notes to the Accounts |
for the year ended 30 June 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from rents received. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
3 |
Investment Property |
|
|
|
|
|
|
|
|
Land and buildings |
£ |
|
Cost |
|
At 1 July 2022 |
957,640 |
|
Additions |
1,800 |
|
Surplus on revaluation |
(45,000) |
|
At 30 June 2023 |
914,440 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 June 2023 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2023 |
914,440 |
|
At 30 June 2022 |
957,640 |
|
Investment property is included at fair value. Valuations were obtained by reputable agents as at the year end. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
|
|
|
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Trade debtors |
1,865 |
|
- |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans and overdrafts |
2,214 |
|
2,214 |
|
Other creditors |
1,677 |
|
1,590 |
|
|
|
|
|
|
3,891 |
|
3,804 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank Loans and Mortgages |
422,723 |
|
426,423 |
|
Bank loans |
4,453 |
|
6,453 |
|
Other creditors |
331,493 |
|
329,904 |
|
|
|
|
|
|
758,669 |
|
762,780 |
|
|
|
|
|
|
|
|
|
|
|
|
|
7 |
Revaluation reserve |
2023 |
|
2022 |
£ |
£ |
|
|
At 1 July 2022 |
164,142 |
|
200,592 |
|
Loss on revaluation of land and buildings |
- |
|
(45,000) |
|
Deferred taxation arising on the revaluation of land and buildings |
- |
|
8,550 |
|
|
At 30 June 2023 |
164,142 |
|
164,142 |
|
|
|
|
|
|
|
|
|
|
8 |
Other information |
|
|
Infinity Estate Investments Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Forest Lodge |
|
Grouse Road |
|
Colgate |
|
Horsham |
|
West Sussex |
|
RH13 6HT |